(Solved by Humans)-Your Turn 1-3 1. The two source s of financing for a business are investment s by owners...

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

Question

Your Turn 1-3 1.    The two sources of financing for a business are investments by owners (contributed capital)  and  loans from  outsiders (liabilities). 2.  Interest is the cost of using someone else's money. Your Turn 1-4 1. Revenues are the amounts a company earns from providing goods or services to its cus­ tomers. Expenses are the  costs to  earn  those revenues. 2. The four statements are: income statement, balance sheet, statement of  changes  in owner's equity, and  statement  of cash flows.

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